According to recent research conducted by the Global Business Travel Association, travel expenses to the US can easily go over $500 per day, and hotels can be real money pits, particularly for extended visits. This never-ending drain could leave you feeling helpless and irritated.
But hold on, something is about to change! Presenting you the revolutionary solution that enables companies and their traveling employees and that is temporary corporate housing. It goes beyond simply cutting costs. Temporary housing turns your travel nightmares into a smooth, stress-free experience by providing the ideal balance of comfort, affordability and convenience.
Understanding Temporary Corporate Housing
If you can’t afford a standard lease, consider short-term corporate housing as your home away from home. The Corporate Housing Providers Association (CHPA) claims that these completely furnished apartments include all the facilities you could possibly want, including comfy furnishings, high-speed internet and a kitchen and laundry room. With more than a million furnished apartments available in the US alone, corporate housing provides business travelers with a flexible and affordable option, making it ideal for trips lasting weeks or months.
Financial Benefits of Temporary Corporate Housing
So, just how can temporary corporate housing that is transitory save you money? Let’s analyze it.
Cost Savings
Corporate housing has major financial benefits over long-term hotel stays. Imagine cooking in a fully functional kitchen instead of paying daily room service fees. Companies can save up to 30% on accommodation expenditures by choosing corporate housing for visits longer than 30 days, according to a 2023 Ernst & Young research. Apart from meal preparation, corporate housing frequently offers added features like in-unit laundry rooms and on-site parking that would be extra at a hotel.
All-Inclusive Pricing
Corporate housing frequently has all-inclusive rates, in comparison to hotels that have additional costs and hidden charges. Budgeting is made simple by the ability to incorporate basic housekeeping, internet and utilities. This stability makes it possible for businesses and employees to relocate with improved financial preparation. The days of pinching pennies out of every towel or internet connection are over!
Long-Term Savings
Corporate housing is great for longer visits. Longer-term negotiated prices can result in significant savings over daily hotel costs. Businesses could save an average of 15% monthly by choosing corporate housing versus extended-stay hotels, according to Marriott International research. Additionally, corporate housing providers frequently give volume discounts to companies needing temporary lodging for several employees.
Enhancing Employee Satisfaction and Productivity
Saving money isn’t the only benefit, though. Employee wellbeing and morale can be greatly increased in a cozy, familiar setting. A 2022 poll conducted by the Society for Human Resource Management (SHRM) found that 68% of workers think that having a pleasant workplace is essential to their productivity. Compared to a standard hotel room, corporate housing provides greater space for workers to unpack, stretch out and create a routine that feels more like home. This could end up in a decrease in tension and an increase in attention, which is going to increase work output. Research indicates that workers in pleasant settings tend to be more satisfied, take less breaks and show increased creativity.
Flexibility and Customization
Do you need a comfortable studio for a short-term job for a lone business traveler? Not an issue. There are many different housing alternatives available in corporate housing to meet every demand and price range. Taking a pet on a trip? Finding pet-friendly housing is no longer a hassle thanks to the availability of pet-friendly solutions from several corporate housing providers. Moving a family with kids in school? Corporate housing can offer a family a short-term residence in a secure neighborhood with top-notch schools, enabling them to settle in and locate long-term accommodation without compromising with the kids’ education. Furthermore, you can change the stay as needed with variable lease periods, giving businesses and workers peace of mind throughout relocations or project-based postings. Corporate housing provides the flexibility and customisation businesses need to provide an enjoyable and comfortable experience for their temporary residents, whether it’s a short-term stay for a single consultant or a multi-month placement for a family of four.
Case Studies and Real-World Examples
Let’s say a business assigns a worker to a three-month job. At $500 a day on average, a hotel stay would set them back an astounding $45,000. However, at $3,000 a month on average, corporate housing could save them more than $30,000. These actual cases demonstrate the genuine financial advantages of temporary housing.
Choosing the Right Provider
It can be difficult to choose the best corporate housing service, so don’t take the first one you come across! Give top priority to experience and reputation, range of alternatives and first-rate customer service, in order to ensure a smooth transition for the employees and a profitable return on investment. Look for reputable companies with a track record of delighted customers and experience resolving relocation problems. The perfect partner offers an extensive list of alternatives, such as property type, location and facilities, to meet the varied demands of your staff. Lastly, providing prompt and attentive customer service is top priority. Offering a personal point of contact, flexibility to your company’s specific demands and technology-powered solutions for efficient booking and management. For example, Nationwide Lodging provides a wide range of equipped apartments around the nation along with first-rate assistance to make sure that your employees have a hassle-free and relaxing stay.
Conclusion
Temporary corporate housing is a calculated investment in the success of your business, not just a convenient solution. Accepting this affordable option can result in huge expense savings as well as happier and more productive employees.
Imagine cozy, fully-equipped residences taking the place of pricey hotel stays. The room and facilities your staff members require to improve their concentration, lower their stress levels and produce better work in the end. It’s about giving your employees the comfort they need to perform at their best, not simply just saving money.
So, choose more wisely. Try temporary corporate housing instead than staying in hotels, which have many restrictions. It’s a move that is good for both your finances and your employees.
